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It’s disappointing to read in today’s Financial Times that one of Britain’s best-known employee owned businesses, the paper mill run by Tullis Russell, has gone into liquidation. This business was converted into employee ownership in the 1980s and 1990s from the family business owned by David Erdal, who has been a strong advocate of employee ownership over the years.

According to the FT, 340 employees have lost their jobs and are eligible only for statutory redundancy pay.